Research

Canada’s export bank, Export Development Canada (EDC), already provides on average nearly fourteen billion dollars in support to oil and gas companies each year. As a result, Canada ranks second highest among G20 countries in public finance for fossil fuels. Now the federal government is using EDC to channel even more support to the oil and gas sector, which has been intensely lobbying the government for a bailout package of up to $30 billion.

The Alberta tar sands are among the world’s largest oil reserves. While investment and expected growth in the industry have been high for the last decade, new industry data paints a dramatically different picture of the sector moving forward.